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Market Equilibrium — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsMarket Equilibrium1 Mark
Question
When is a firm called price maker?
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Answer

In case of monopoly, the firm is called a price maker. As a single seller deals in the market therefore he holds the power over the price that he charges for a commodity.

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